Brett Arends’s ROI: U.S. government quietly hikes illegal immigration projections by 175%. What does that mean for workers?

by | Jan 27, 2023 | Stock Market

Bad news for entry-level workers and the wages of the working poor, but good news for corporate profits, inflation and Social Security: The federal government has just drastically hiked the number of illegal immigrants it expects to let in to America over the next 10 years. Net immigration of “foreign-born people without legal status” into the U.S. is projected to average 220,000 a year over the next decade, the Congressional Budget Office has just revealed.

That’s a remarkable 175% hike from the average of just 80,000 a year the CBO had forecast a mere 6 months ago. The figure is unannounced in any press release, but appears instead in the third sentence of the fourth paragraph of the fifth page of the CBO’s latest report on America’s “Demographic Outlook: 2023 to 2053.” The CBO press office confirmed the rise in an email to MarketWatch. “This is correct,” a spokesperson wrote. They added: “In CBO’s assessment, the easing of pandemic-related travel restrictions and improved visa-processing capabilities boosted net immigration by 600,000 people in 2022 relative to last year’s projected amount, largely because of increased net immigration of foreign-born people without legal status.” (Emphasis added.) The Congressional Budget Office is the independent department that conducts research, analysis and long-term forecasts on behalf of both branches of Cong …

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